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    Elizabethtown Income-Producing Rental Property Title is generated by Realmo AI

    7639 U.S 9, Elizabethtown, NY 12932

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    For Sale
    $175,000

    MULTI_FAMILY - Other - Elizabethtown, NY

    Property size:
    1,566 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $111/SF
    Added:
    May 27, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 2 at 3:06 pm

    Property Features for 7639 U.S 9

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    2
    Parking features
    On Street
    Spa
    1
    Window features
    Double Pane Windows, Insulated Windows
    Patio and Porch features
    Porch
    Interior features
    Apartment
    Basement
    Crawl Space, Dirt Floor
    Appliances
    Electric Range, Refrigerator
    Standard status
    Active
    APN
    55.84-1-16.022
    Size
    1,566 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1998

    Utilities

    Utilities
    Cable Available
    Sewer type
    Private Sewer, Septic Tank
    Heating system
    Oil, Baseboard, Hot Water(Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1850
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Carpet, Wood
    Building materials
    Vinyl Siding, Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Lauren Murphy

    Listing agent Lauren Murphy

    Listing office Heritage Properties of the Adirondacks PO Box 351, Essex, NY

    Listing date May 27, 2026

    MLS# 207353 Listing URL

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑producing property: Two 2BR, 1BA apartments, rentable for $700/month each.
    • Newer, efficient systems: Weil‑McLain oil‑fired boiler, thermopile windows, and insulated exterior doors.
    • Separate electric meters for each apartment, tenants pay own electric bills.
    • Low‑maintenance exterior with vinyl siding and metal roofs.
    • Vacant and easy to show for immediate occupancy or rental.
    • Potential for owner‑occupancy: Live in one unit and rent the other.

    Overview

    This well-maintained income-producing rental property is located in Elizabethtown, NY. The building features two apartments, each with two bedrooms and one bathroom. The living rooms and bedrooms are carpeted, while the kitchens and bathrooms have vinyl flooring. Newer thermopile windows, exterior insulated doors, and storm/screen doors have been installed. Each apartment has a 100 amp electric service with separate electric meters, allowing tenants to pay their own electric bills. A newer oil-fired Weil-McLain boiler provides heat, which is paid for by the owner. The property is connected to town water and has a private septic system. The current rent for each apartment is $700 per month. The building has metal main and porch roofs, vinyl siding, and a stone foundation with a crawl space. There are covered porches on the south side of both floors. The property includes a small lot with the building set into a wooded side hill, offering room for a garden and/or small off-street parking area. On-street parking is also allowed. This property could serve as a starter home for a single person or couple, with the option to live in one apartment and rent out the other. It also presents a good, clean investment opportunity that requires minimal initial work. The property is presently vacant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Elizabethtown
    County
    Essex
    State
    New York
    Longitude
    -73.58834
    Latitude
    44.217854

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex in Elizabethtown, NY, perfect for investors.
    Where is this duplex located?
    The property is located at 7639 U.S 9 Elizabethtown, NY.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Income‑producing property: Two 2BR, 1BA apartments, rentable for $700/month each.; Newer, efficient systems: Weil‑McLain oil‑fired boiler, thermopile windows, and insulated exterior doors.; Separate electric meters for each apartment, tenants pay own electric bills.
    (518) 963-7876
    We can help!
    Listing Contact
    Lauren Murphy
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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